Bush Wins Agreement To Freeze Mortgages; Hard-Up Owners Won't See Adjustable Rates Soar
President Bush will announce this afternoon an agreement with major mortgage firms to freeze interest rates for five years for financially troubled homeowners -- a plan advocates say will help forestall a major foreclosure crisis but some conservatives say amounts to a bailout of people who made

Publication: The Washington Post

TREASURER CORDRAY URGES NATIONAL FREEZE OF ADJUSTABLE RATE MORTGAGES
The Ohio State Treasurer issued the following news release: Ohio Treasurer Richard Cordray today told community and industry leaders attending a state-wide housing conference that he has asked leaders of the U.S. Treasury to support a national freeze of adjustable rate mortgages at their

Publication: US Fed News Service, Including US State News

Freeze on interest rate, for now: Consumers get a break from steady increases in credit card debt and adjustable mortgages, but experts say the stabilized rate may be temporary.
Byline: Randi F. Marshall Aug. 9--In what was likely one of its toughest decisions in recent memory, the Federal Reserve left a key interest rate unchanged yesterday -- breaking a streak of continuous rate hikes that lasted two years. In leaving the federal funds rate, which banks charge one

Publication: Newsday (Melville, NY)

Bailout not for all; Freeze on adjustable rates could compound woes
Some Chicagoans who took out exotic mortgages in 2005 at the peak of housing prices might want to step out of their mortgages now rather than wait through the five-year freeze on interest rates pushed by the Bush administration. Bush and banking executives have reportedly agreed on a plan to freeze

Publication: Chicago Sun-Times

Now In The Market.(Wolters Kluwer Financial Services helping mortgage servicers modify subprime adjustable rate mortgages)(Informative Research successfully completing more than 20 million Fannie Mae transactions.)(Texas CU Members Mortgage adding several new credit unions to its service)
Wolters Kluwer Helps ARMs MINNEAPOLISuWolters Kluwer Financial Services is helping mortgage servicers modify subprime adjustable rate mortgages (ARMs) to make borrowersE payments more affordable and avoid foreclosures through a standard, customizable set of documents and packages enabling servicers

Publication: Credit Union Journal

U.S. organizing an adjustable-rate freeze.(USA)
Byline: Mark Trumbull Staff writer of The Christian Science Monitor Help is coming to address one of the most important factors hammering the US housing market: the large number of homeA-owners at risk of foreclosure because their interest rates will soon reset upward. The emerging plan - a

Publication: The Christian Science Monitor